Author Topic: Commuting, changing jobs and benefit packages.  (Read 1764 times)

googs

  • 5 O'Clock Shadow
  • *
  • Posts: 4
Commuting, changing jobs and benefit packages.
« on: September 15, 2016, 07:32:36 AM »
Hey fellow Mustachians!

I need to make a final decision about a new job today-the new potential employer needs the response. My wife and I (22 and 28) recently purchased a new home closer to family, as we need to help care for some sick older relatives. We close on the new house next week. It is definitely Mustachian, as it is only 1050 sq feet.

The problem is, this home is about 25.5 miles from my job. With that in mind I went out looking for a new job closer to home and found one a few weeks ago 9.5 miles from my home. This job is located right off a linear bike path that goes right by my house, so a bicycle commute would be possible. Apart from the distance, there are a lot of other considerations here:

My current job is practicing in internal medicine at a large hospital-associated Multispecialty Group and I pick up some time in their Urgent Care as well. I work M-F 8:30-5:00.  I am paid hourly, $52/hr (base salary=109k/year), with anything over 40 hours being paid as 1.5x. Staying a little late at the office or not taking lunch adds up, as well as picking up a few hours here and there in the Urgent Care. Health Insurance for a $2600 deductible and $4000 out of pocket max for my wife and I costs $176 a month, and my employer provides STD and LTD for free, 200k of life insurance, along with 50% match on up to 6% of my contribution to 401k. I also get 184 hours of vacation along with 8 paid holidays, which adds up to 248 hours of time off per year (=$12,846 at $52/hr). They said I may be converted to salary in the future, but then Urgent Care will be paid at the per-diem rate of $85/hr.

The new job is at a smaller physician-owned Urgent Care center. They've offered me a salary of $120,000 a year (equivalent to $65/hour but no overtime pay)  plus betweeen $2000 and $5000 a year productivity bonus, a $5000 one-time sign on bonus. Health insurance is a killer: to have my wife and I insured, along with paying for LTD out of pocket (they don't have STD), I'd have to pay $934/month. This provides a $5000 deductible and $12,000 out of pocket max yearly. (I could also cover just myself for $130/month and try to find outside coverage for my wife, or she may be getting a work from home position with Apple and could cover the insurance, but that isn't sure yet). Vacation time is 120 hours per year (@$65/hr=$7,894). Schedule is: One week 32 hours, the next 44 hours, averaging 38 hours a week. One week I would work Wednesday and Thursday from 8am to 8pm and Saturday from 9am-5pm. The next week I'd work Monday, Wednesday, Friday 8am-8pm then Saturday 9a-5pm. If patients walk in at 7:59 though, I have to see them so I could be potentially staying late without extra pay. Also, every other Saturday, I'd have to go to another Urgent Care site that is 25 miles from my home, so I need to take that into consideration. Long story short, 2 -12 hour shifts plus 8 hour shift on Saturday alternating with 3- 12 hour shifts and an 8 hour shift on Saturday (I'd have to work every Saturday but I'd have more weekdays off).

When subtracting health insurance from total salary for each job and adding in the value of vacation time, my current job actually pays $119,724 and the new one will pay $119,228 with a $2K bonus or $122,228 with a $5k bonus depending on productivity. Pretty similar if we consider days off counting as tangible money.

My concerns are: commute distance, schedule, time with family (whole days vs time in evening and weekends), and the health insurance.

Other details: I drive a manual 2013 Hyundai Accent hatchback. My wife works at a Marriott hotel about 9 miles away but is considering an Apple work from home position. She works 24 hours a week and does volunteer work as well.

So what say you Mustachians? After deliberating on this for a couple of weeks and stringing the potential new employer along with my indecisiveness, I need some real Mustachian advice to make my final decision.

Axecleaver

  • Magnum Stache
  • ******
  • Posts: 3427
  • Location: Columbia, SC
Re: Commuting, changing jobs and benefit packages.
« Reply #1 on: September 15, 2016, 08:10:16 AM »
Problem with the new job is that you could end up working a LOT more hours than you expect to, for free. The productivity bonus is tiny compared to the extra work you're providing. At the current job, at $52/h you can cover your commute delta of 15 miles (@$.54 a mile) in about ten minutes a day. Once you convert to salary, take the higher rate for urgent care, and pick up more hours doing that to juice your earnings.

If you do decide to take the new job, don't take the health insurance for your wife. You'll more likely find better deals, even without subsidies (which you make too much for, anyway), through your state's health insurance exchange. Anyone is free to shop there regardless of whether your employer provides insurance or not. You'll have way more choices and can dial in the mix of benefits and cost you really want.

SKL-HOU

  • Pencil Stache
  • ****
  • Posts: 597
  • Location: Houston, TX
Re: Commuting, changing jobs and benefit packages.
« Reply #2 on: September 15, 2016, 08:26:52 AM »
The new job doesn't sound good enough to make the move. I would hold out until they convert you to salary and see what you can negotiate. Then start looking.

googs

  • 5 O'Clock Shadow
  • *
  • Posts: 4
Re: Commuting, changing jobs and benefit packages.
« Reply #3 on: September 15, 2016, 08:42:28 AM »
Problem with the new job is that you could end up working a LOT more hours than you expect to, for free. The productivity bonus is tiny compared to the extra work you're providing. At the current job, at $52/h you can cover your commute delta of 15 miles (@$.54 a mile) in about ten minutes a day. Once you convert to salary, take the higher rate for urgent care, and pick up more hours doing that to juice your earnings.

If you do decide to take the new job, don't take the health insurance for your wife. You'll more likely find better deals, even without subsidies (which you make too much for, anyway), through your state's health insurance exchange. Anyone is free to shop there regardless of whether your employer provides insurance or not. You'll have way more choices and can dial in the mix of benefits and cost you really want.

Thanks Axecleaver. I didn't think I could cover the commute cost that easily. How much do you think having a few days off during the week to be with my wife and to go away or get things done when most people are at work is worth at the expense of the 12 hour days essentially being whole-day events with little time to see my wife at the end of the day?

robartsd

  • Magnum Stache
  • ******
  • Posts: 3347
  • Location: Sacramento, CA
Re: Commuting, changing jobs and benefit packages.
« Reply #4 on: September 15, 2016, 09:38:30 AM »
I don't like the new job's schedule. It would be slightly more convenient for some errands to have some weekdays off regularly; however, you only get two days in a row off every other week (Sunday, Monday), so it provides no real time for a get away or projects. Most of the time you'll just be recovering from your long hours the day before. I see this schedule as a net loss, not a net gain.

Although 10 miles is somewhat reasonable for cycling for an 8 hour workday, it probably isn't when the workday is 12 hour long. You could use an e-bike to make the commute before/after such a long shift; however, I'd rather consider using the e-bike to make the 25 mile commute doable by bike and keep the more typical schedule.

Of course you could answer, "No, I'm not willing to accept the offer: the compensation isn't enough to leave my current job" and see if they're willing to sweeten the deal.

googs

  • 5 O'Clock Shadow
  • *
  • Posts: 4
Re: Commuting, changing jobs and benefit packages.
« Reply #5 on: September 15, 2016, 10:10:24 AM »
I don't like the new job's schedule. It would be slightly more convenient for some errands to have some weekdays off regularly; however, you only get two days in a row off every other week (Sunday, Monday), so it provides no real time for a get away or projects. Most of the time you'll just be recovering from your long hours the day before. I see this schedule as a net loss, not a net gain.

Although 10 miles is somewhat reasonable for cycling for an 8 hour workday, it probably isn't when the workday is 12 hour long. You could use an e-bike to make the commute before/after such a long shift; however, I'd rather consider using the e-bike to make the 25 mile commute doable by bike and keep the more typical schedule.

Of course you could answer, "No, I'm not willing to accept the offer: the compensation isn't enough to leave my current job" and see if they're willing to sweeten the deal.

I already tried to get $130k and they said no and offered $120k and the one time $5,000 sign on bonus.

50 miles seems so far for a bike commute!

googs

  • 5 O'Clock Shadow
  • *
  • Posts: 4
Re: Commuting, changing jobs and benefit packages.
« Reply #6 on: September 15, 2016, 12:42:13 PM »
Any other advice?